amazon
Online retail and cloud computing giant Amazon plans to invest a further €10 billion ($10.7 billion) in Germany, the majority of which will go towards its cloud internet services, the company announced on Wednesday. Amazon will spend €8.8 billion on expanding its cloud subsidiary Amazon Web Services (AWS) in the region around Frankfurt by 2026. The money will fund construction work, data centre operations as well as equipment and software. A smaller part of the investment will go toward expanding Amazon's logistics operations, robotics as well as two new large corporate office buildings in the...
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Profit rose for Amazon.com Inc in the first quarter compared to the same period of the previous year, the company reported late Tuesday. The company's bottom line totalled $10.43 billion, or $0.98 per share. This compares with $3.17 billion, or $0.31 per share, in last year's first quarter. The company's revenue for the quarter rose 12.5% to $143.31 billion from $127.36 billion last year.
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The Chinese online clothes retailer Shein is set to face strict EU digital rules after the European Commission classified the company as a "very large online platform" (VLOP) on Friday. Businesses classified as VLOPs and search engines with more than 45 million active users per month are subject to particularly strict requirements. These include submitting a risk assessment once a year concerning harmful content and proposing countermeasures. They also have to share data with authorities and researchers. Requirements also include countering the sale of counterfeit goods and harmful products. O...
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Italy's antitrust authority has imposed a fine of €10 million ($10.7 million) on the US retail giant Amazon for unfair business practices, but the company said it would appeal the fine. The Italian competition authority said on Wednesday in Rome that on Amazon's Italian website, the purchase option for many products was automatically set to "regular" instead of "one-off." This considerably restricts consumer choice, it said. In any event, a €10 million fine is unlikely to matter much to the US company, as the retail giant posted more than €10 million in profit in the fourth quarter of 2023 alo...
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Italy's antitrust authority has imposed a fine of €10 million ($10.7 million) on the US retail giant Amazon for unfair business practices. The Italian competition authority said on Wednesday in Rome that on Amazon's Italian website, the purchase option for many products was automatically set to "regular" instead of "one-off." This considerably restricts consumer choice, it said. Two Amazon subsidiaries are affected: Amazon Services Europe, based in Luxembourg, and Amazon EU. The amount of the fine is unlikely to matter much to the US company, as the retail giant posted more than $10.7 billion ...
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Amazon boss Andy Jassy has criticized competition regulators in Brussels and Washington for torpedoing his company's purchase of robot vacuum cleaner pioneer iRobot. Jassy pointed out on Thursday that iRobot was struggling to keep up with Chinese rivals after the deal was cancelled. He also raised concerns about data security, because modern vacuum-cleaner robots create a 3D scan of the home. "Really, what Western regulators were saying is that they trust these two large Chinese companies with maps of the inside of US consumers' homes more than they do Amazon," Jassy complained in an interview...
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The cloud computing division of Amazon, Amazon Web Services (AWS), has announced plans for hundreds of job cuts, as the group shifts its focus. The layoffs specifically target the division's physical stores, technology, and sales and marketing departments. "We've identified a few targeted areas of the organization we need to streamline in order to continue focusing our efforts on the key strategic areas that we believe will deliver maximum impact," an AWS spokesperson said in a statement. The company said they are committed to supporting affected employees in transitioning to new roles, both w...
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Amazon is scaling back plans for its "Just Walk Out" supermarket system, which allows shoppers to simply grab items from the shelves and leave the shop. In the company's own Amazon Fresh supermarkets in the US, Amazon's Dash Cart, a networked shopping trolley with a built-in scanner, is to be used instead in future. Tony Hoggett, Amazon's global grocery stores chief, told the tech website The Information that this system had been found to be more popular with shoppers. He said customers want to have a better overview of how expensive their grocery purchase will be. Amazon's trolleys show the p...
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